Glossary

British thermal unit. Measure unit for thermal energy. The quantity of heat required to raise the temperature of one pound of water one degree Fahrenheit. This measure is widely used to designate the power of air conditioners. To convert a power from BTU to watt divide the Btu power by 3 414,5 to obtain the power in kWh. (1 Kwh = 3 414,5 BTU)

Estimated accounts receivable amount shown in an income statement (profit and loss account) as irrecoverable.

(See: Bad Debts or Outstanding Debts)

Bailiff, sheriff's deputy employed for the execution of judgements (eg, seizure of judgement debtor's goods, repossession of chattels, and evictions); also, an officer of the court having custody of prisoners under arraignment. Individuals may be appointed to carry on business as bailiffs in counties where they are needed for the public convenience.

In financial accounting, a balance sheet or statement of financial position is a summary of the financial balances of a company. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year.

A bank guarantee is a bank's commitment to advance funds to a third party should the bank’s client default on the guaranteed obligations.

The minimum rate at which the Bank of Canada extends short-term advances to chartered banks and other financial institutions members of the Canadian Payments Association. It is the reference rate for the preferred rates fixed by the financial institutions.

A bankruptcy is triggered when a company can no longer meet its short-term commitments and thus faces a liquidity crisis. Bankruptcy happens because a company does not make enough profits, and not because of significant debts.

Base rates are interest rates of the day fixed by the Central Bank of a country or a monetary Union, which enables it to regulate economic activity. These rates are those remunerated by banks and financial institutions for their cash surpluses placed by the Central Bank, and the rate at which can borrow these same economic agents of the Central Bank (refinancing rate and discount rate). These rates allow, by fixing the "cost of money" on monetary market, to regulate economic investment and thus encourage the economic activity in periods of low growth, or slowdown the over-investment (in unprofitable projects) during periods of inflationary overheating. Base rates thus influence growth and exchange rate. An increase in the base rates can lead to a new appreciation of the relevant currency.

The primary mandate of the CA is to manage the affairs of the union and to exercise all powers necessary to that end. It has essentially the union’s executive. The duties and obligations of the Board are: the conservation of the building, coordination and management of common areas, the protection of collective rights, maintain records of ownership and respect for the declaration of condominium.

In good faith; without fraud or deceit; authentic.

A certificate received for a loan made to a company or government. In return, the issuer of the bond promises to pay the lender interest at a set rate and to repay the loan on a set date.

The book value of an asset is the value it is given in the account books of the company that owns it. The book value corresponds to the original cost of the asset less its accrued amortization.

In 1855, there is the creation, through a general law, of the institution of the municipality (Baldwin Law). At that time, there were already two levels: Parishes/Villages/Cities. Nowadays: local municipality and township equivalent today to the regional municipality (MRC), with certain responsibilities inter-municipal). In 1870, adoption of a municipal code (that still exists today) for the rural world. In 1876, adoption of the Act of the cities and towns for the urban world (Cities and towns are not distinct nowadays). These two laws conferred different powers (ex. aqueduct in the cities, agricultural inspectors in the countryside). Often amended since, there are many connections but also fewer distinctions although less and less, we predict the overhaul of both laws into one. Institutions created to control municipal institutions: In 1918, creation of the Minister of Municipal Affairs. In 1932, creation of the Municipal Commission (administrative and quasi-judiciary organism surveying the application of certain laws). In 1971, creation of the Bureau de révision de l’évaluation foncière (BREF), now integrated to the Tribunal administratif du Québec (TAQ). Several cities have a Charter (old meaning) including Montreal, which may confer some additional special powers. These are so-called "private", laws which are not of general application. The rule nowadays is that a municipality is governed by its Charter interpreted strictly and otherwise by relevant law interpreted more broadly, to which the Charter is often referred to. There are also patent letters, which are based on a slightly different model.

Manner in which the main building of an evaluation unit is physically linked to other adjacent buildings. Depending on the physical link that connects the building to the other unit, the main building is detached, semi-detached, in-row, or integrated.

A bungalow is a type of house, with varying meanings across the world. Common features to many (but not all) of these definitions include being detached, low-rise and the use of verandas. The term originated in India, deriving from the Gujarati બંગલો (baṅgalo), which in turn derives from Hindi बंगला (baṅglā), meaning "Bengali" and used elliptically for a "house in the Bengal style". Such houses were traditionally small, only one story and detached, and had a wide veranda.